The obligatory knowledge and experience test for raising the mortgage without the intervention of a consultant disappears. Minister Raymond Knops (Home Affairs) wants to give execution only a boost. Financing sustainability measures must become easier this way. A heating fund will also be introduced from February 2020 to stimulate sustainability.
Knops expects the scrapping of the knowledge and experience test to lead to more lenders going to offer the increase in the mortgage for more sustainable execution only. The costs for the consumer are therefore reduced. "The lower closing costs (mortgage advice costs around 800 euros) will lower the threshold to increase the mortgage for sustainability," the minister writes to the House of Representatives.
Inform about conditions and risks
The minister emphasizes that mortgage providers must inform the consumer about the conditions and financial risks of the supplementary mortgage. Banks must also assess the creditworthiness of applicants. Thus, according to the minister, it is guaranteed that a credit is justified.
Individual energy saving in lending standards
Knops mentions the measure in a letter about financing measures for making houses more sustainable. In it he also announced that he would investigate whether individual energy savings could be included in the lending standards for consumer credit. With a mortgage, energy-saving measures may already be taken into account when determining the financing burden.
Heat fund in February
A heat fund will be introduced in February 2020. Loans from that fund have a maximum duration of 20 years for owner-occupiers and a maximum of 30 years for VVEs. The minister expects an interest rate that is comparable to the interest rate for NHG mortgages. A financing product from this heat fund is also being sought for owner-occupiers who, on the basis of their income, do not qualify for a regular loan. That plan still needs to be worked out.
In addition, Knops is working on a proposal to make building-related financing possible. It had already been announced in the Climate Agreement that sustainability financing could be linked to the home. Upon sale, the residual debt and payment obligations are transferred to the new owner.
Source: AM web